Raymond James Financial Inc. Invests $318,000 in scPharmaceuticals Inc. (NASDAQ:SCPH)

Raymond James Financial Inc. purchased a new stake in shares of scPharmaceuticals Inc. (NASDAQ:SCPH) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 89,690 shares of the company’s stock, valued at approximately $318,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in scPharmaceuticals by 35.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 102,854 shares of the company’s stock valued at $364,000 after buying an additional 26,964 shares during the last quarter. Johnson Financial Group LLC purchased a new position in scPharmaceuticals in the fourth quarter valued at about $302,000. Bank of New York Mellon Corp grew its stake in scPharmaceuticals by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 75,174 shares of the company’s stock valued at $266,000 after purchasing an additional 6,051 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in scPharmaceuticals by 59.2% during the 4th quarter. Rice Hall James & Associates LLC now owns 989,635 shares of the company’s stock worth $3,503,000 after purchasing an additional 367,970 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of scPharmaceuticals by 20.1% in the 4th quarter. Rhumbline Advisers now owns 42,554 shares of the company’s stock valued at $151,000 after purchasing an additional 7,112 shares in the last quarter. Hedge funds and other institutional investors own 89.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SCPH shares. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of scPharmaceuticals in a research note on Thursday, March 20th. Maxim Group lowered their price objective on shares of scPharmaceuticals from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, March 20th.

scPharmaceuticals Price Performance

Shares of NASDAQ:SCPH opened at $2.19 on Thursday. The company has a current ratio of 8.08, a quick ratio of 6.89 and a debt-to-equity ratio of 1.66. The firm’s 50 day moving average is $3.03 and its two-hundred day moving average is $3.51. The firm has a market capitalization of $110.12 million, a P/E ratio of -1.15 and a beta of 0.38. scPharmaceuticals Inc. has a 52 week low of $1.94 and a 52 week high of $5.65.

scPharmaceuticals (NASDAQ:SCPH) last announced its earnings results on Wednesday, March 19th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.05. scPharmaceuticals had a negative return on equity of 244.93% and a negative net margin of 264.60%. The firm had revenue of $12.15 million for the quarter, compared to the consensus estimate of $12.08 million. Analysts anticipate that scPharmaceuticals Inc. will post -1.53 earnings per share for the current year.

About scPharmaceuticals

scPharmaceuticals Inc, a pharmaceutical company, engages in the development and commercialization of various pharmaceutical products. Its lead product candidate is FUROSCIX that consists of formulation of furosemide, which is delivered through an on-body infusor for treatment of congestion due to fluid overload in adults with chronic heart failure and kidney disease, as well as consists of subcutaneous loop diuretic that delivers IV equivalent diuresis at home; and FUROSCIX On-Body Infusor, a drug-device combination product consisting of FUROSCIX.